5 Stocks Under $10 Moving Higher
Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.
Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.
Actuate (BIRT) provides software and services to develop and deploy custom business intelligence and information applications. This stock is trading up 7.4% to $6.05 in recent trading.
Today's Range: $5.88-$6.07
52-Week Range: $4.97-$7.30
Three-Month Average Volume: 256,740
From a technical perspective, BIRT is soaring higher here right above its 50-day moving average of $5.51 with above-average volume. This move has started to push shares of BIRT into breakout territory, since the stock has cleared some near-term overhead resistance at $5.84. Shares of BIRT are now quickly moving within range of triggering another major breakout trade. That trade will hit if BIRT manages to take out its 200-day moving average at $6.27 and then once it clears more resistance at $6.43 to $6.45 with high volume.
Traders should now look for long-biased trades in BIRT as long as it's trending above that first breakout level of $5.84, and then once it sustains a move or close above those second tier breakout levels volume that hits near or above 256,740 shares. If that breakout triggers soon, then BIRT will set up to re-test or possibly take out its next major overhead resistance levels at $7.16 to 7.20. Any high-volume move above $7.20 to $7.30 will then push shares of BIRT into new 52-week high territory, which is bullish technical price action.
Sunshine Heart (SSH) is an early-stage medical device company focused on developing, manufacturing and commercializing its C-Pulse Heart Assist System for treatment of Class III and ambulatory Class IV heart failure. This stock is trading up 7.5% to $6.83 in recent trading.